The Rise and Future Demise of the World Capitalist System

In The Rise and Future Demise of the World Capitalist System, Immanuel Wallerstein echoes Marx’s ideas on capital to explain world history and, in particular, its economic dimensions. For Wallerstein, world history is comprised of unequal economic exchanges between the core countries and the peripheral ones, which together comprise a capitalist “world system.” Answer the following questions as you move through the reading.

Questions

1. Why does Wallerstein think it is important to explain world history as a series of stages?

2. Like Marx, Wallerstein contends that the capitalist world-system is built upon two important contradictions that will eventually lead to its demise. What are they?

3. Wallerstein is relatively cynical on the promises of globalization, suggesting instead that it has brought a tremendous amount of inequality and exploitation. What, if any, are some more positive benefits of globalization, in your opinion?